IPL ecosystem scores 6% jump in value to Rs 92,500 crore in 2023: Report
As per the D&P Advisory report, the bifurcation of media rights resulted in a competitive fervour between the digital and the TV broadcaster
The IPL ecosystem value has increased from Rs 87,000 crore to Rs 92,500 crore representing a 6.3% increase over the previous edition, according to the recently launched report- Beyond 22 yards- IPL & WPL Valuation 2023 by D&P Advisory. According to the report, in USD terms, this translates to a growth from $10.9 billion to $11.2 billion, representing an increase of approximately 3.3%.
This was the first year when the IPL's digital and television rights were controlled by two different broadcasters. Disney Star paid Rs 23,575 crore for TV, while Viacom18 paid Rs 20,500 crore for digital for a five-year period.
The report stated that the league has always been a spectacle of cricket, business, and entertainment. This year was no exception, as the league continued to captivate audiences, both on television and digital platforms.
It added that the current valuation of the IPL ecosystem underscores its unwavering appeal, and while the value remains largely consistent with last year’s estimate, there’s more to this story than meets the eye. In its previous year’s valuation, D&P Advisory had already factored in the surge from the media rights renewal. Consequently, this year’s IPL ecosystem value demonstrates only a modest increment, primarily because the actual cash flows closely mirror their prior projections, and the significant leaps were already accounted for in the preceding assessment.
This year witnessed some strategic shifts in the IPL's broadcasting landscape. For the first time, the Board of Control for Cricket in India (BCCI) made the judicious decision to bifurcate the media rights for TV and digital platforms.
The report added that this resulted in a competitive fervour between Disney Star, the official television broadcaster, and JioCinema, the OTT streaming partner. According to the Broadcast Audience Research Council (BARC) India, the IPL telecast on the Star Sports Network attracted a staggering 505 million viewers with an impressive watch time of 427.1 billion minutes. On the digital front, JioCinema reported that 449 million viewers tuned in on their platform, with over 126 million viewers choosing connected TV options to savor the IPL action.
